Siyata Mobile (SYTA) Brings State of the Art Communications Equipment to First Responders with 2021 Revenue Growth Indicated

Siyata Mobile (SYTA) Brings State of the Art Communications Equipment to First Responders with 2021 Revenue Growth Indicated

Good day everyone,

We are initiating coverage on Siyata Mobile Inc. (NASDAQ: SYTA), a Business-to-Business (B2B) global vendor of next generation Push-To-Talk over Cellular (PoC) devices and cellular booster systems.

Current price $4.89/share (at market close 8-20-21)

SYTA is a provider of state-of-the-art communication devices and cellular boosting systems primarily for first responders. We’ll talk more about that below but first we want to discuss why SYTA shares indicate potential for a near term swing.

We’ve been watching this company for a while and feel like the time is right to report on them because:

We see some potential near-term catalysts as revenues improve and new products hit the market.

Shares are trading significantly off recent highs ($9.52 on July 1st, $12.69 on April 13th)

Chart pattern set up for a swing.

2/8/2021 Maxim Group Initiated Coverage Buy Target $17.00

When we look at the SYTA stock chart we note a few things. The shares are trading below their 50 DMA of $7.18 and below their 200 DMA of $8.98. The RSI (14) is 28.21. These data indicate the shares could be oversold.

On July 2, 2021, the company released its FYE 2020 financial results, and they may have been disappointing to investors as revenues overseas dropped and impacted overall performance. The slide in the company share price has continued since then.

The financial data released on July 2nd had some silver linings that may have overlooked. For the year end 2020, North American sales increased. Also on July 2, 2021, the company released financial data for Q1 2021 reflecting the following:

Revenue was up 77% from Q1 2020 to $4M, indicating a potential pro forma revenue level of $16M for FYE 2021. At the current market value of $23.5M the price to sales ratio would be a low 1.45X.

Gross margin increased to 43.2%, an enviable level of gross margin for any company.

SYTA had $9.7M in cash on March 31, 2021. The company has a small share structure with 4.82M outstanding shares and 4.64M in float (est.)

First responders have traditionally used Land Mobile two-way radios (LMR) and there has been a need for next generation communication. That next gen system is known as Push-to-Talk over Cellular (PoC). SYTA develops and manufactures under the Siyata brand name and licenses the Uniden® brand name for its UV350 in-vehicle device, its cellular signal boosters.

According to a recent press release issued by SYTA, “After 9/11, the U.S. government recognized the need for a unified nationwide first-responder network and allocated $100 billion to create FirstNet, a broadband 4G LTE network in the U.S. that is operated by AT&T. (NYSE: T) The network recently reported that it currently provides 2.5 million connections (vs 2.2 million reported at the end of Q1 2021) to 17,000 public safety agencies (vs 16,000 reported at the end of Q1 2021), and Siyata is tapping into that network”.

Product line up:

The UV350, the Company’s flagship device and the only dedicated in-vehicle device on the market that has been certified as FirstNet Ready™. The UV350 runs on the Android operating system and comes with noise cancellation, a WiFi hotspot, available accessories like a PTT (Push-To-Talk) palm mic, and 4G LTE high-speed data of up to 150 Mbps. It’s received numerous government and industry certifications, including FCC, PTCRB, GMS, and IC.

Handset: SD7 Siyata will be launching its newest rugged handset, the SD7 (pictured below), in North America later this year. Siyata has been designing and selling rugged handsets for years in international markets, but this will be its first model in North America. It’s a Push-To-Talk device with a limited interface that is LTE, Wi-Fi, and Bluetooth-enabled and uses the Android operating system.

Cellular Boosters. Siyata’s boosters (also marketed as Uniden®) are differentiated from the competition for wireless carrier connectivity, smartphone selection, and RF passive bypass technology. The RF bypass technology was created by ClearRF, a recent acquisition of Siyata that manufactures its devices in the U.S. in an ITAR (International Traffic in Arms Regulations) facility that is also AS9100D-certified to work with aviation, space, and defense companies.

To date, Siyata has sold its UV350 devices to fleets in Israel, Europe, Australia, New Zealand, Canada, and the United States. The North American market for its three products is estimated at $50M. The company anticipate its near-term revenue growth to be in North America as it transitions its products from 3G to 4G.


Indications of significant revenue gains in 2021.
State-of-the-art communications vendor for first responders.
Tiny share structure with low 4.6M float.
Sustained price dip ready to turn upward.

We wil have more on SYTA soon,
The Traders News Group



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